China Withholds Rare Minerals From US

And the US is 15 years away from having its own supply

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Recent trade spats with the US have caused Chinese officials to block shipments of rare earth minerals, a key element of high-tech products ranging from hybrid cars to missiles. China controls production of 97% of so-called rare earth minerals, LiveScience reports, which really aren't so much rare as expensive and time-consuming to process. Experts say it might take the US up to 15 years to get its own supplies.

Last month China also cut Japan off in a dispute over the arrest of Chinese fishermen, affecting battery production for the Prius. Toyota, however, is believed to have large temporary stockpiles of these minerals, whereas many US firms do not. Click here for Paul Krugman's take. Read the full article here.

The Chinese have cut off rare earth minerals first to Japan, and now to the US.
(Getty Images)

The Chinese have cut off rare earth minerals first to Japan and now to the US.
(Getty Images)

The US will have no say in the matter and won't admonish China in ANY SUBSTANTIAL way, despite the economic threat. This is because we are dependent on China for the following:

1. A gargantuan amount of human labor for nearly 90% of products sold in the US.2. A gargantuan number of products consumed in the US.3. A gargantuan slice of our debt, which leads to....4. Most of the loans that float our economy.

So, you can expect Hillary Clinton to issue a slap on the wrist, a turn of the cheek and the following public statement: 'Thank you, comrades, can I have another?'

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